Evtol Aircraft Future
Evtol Aircraft Future : Peter H. Schmidt is the COO of Transcend Air, an aviation startup that he co-founded with CEO Gregory Bruell.
He grew up in Wisconsin, and he loves the Green Bay Packers and the Dallas Cowboys. Currently, his main hobbies are flying aerobatics and singing.
NYC to Boston in just 30 minutes?
Mr. Schmidt began his years at MIT as a physics major but graduated with a computer science degree. He returned to MIT Sloan for a management degree. Describing himself as a “problem solver,” Mr. Schmidt has been an entrepreneur his entire life. During high school, he aspired to create his own company. In his early career, Mr. Schmidt successfully exited several technology-based startups. He eventually switched to aviation, where he has served as the COO of multiple companies, including Linear Air and Jet Advisors. Mr. Schmidt says that being a generalist has helped him serve as an effective startup COO, and that his ability to “supervise other people doing their job at a high level of quality is a direct outcome of my management experience and engineering training.”
Transcend is a product of both founders’ visions. Mr. Schmidt labels his as the “airline perspective,” while CEO Greg brings the “passenger perspective.” Transcend’s COO and CEO are using their career experiences to not only build a successful aircraft and airline, but most importantly, to understand consumer’s preferences. The founders estimate that there is a $20 billion market for Transcend’s services across major city pairs such as New York and Boston, Los Angeles and San Francisco, and Montreal and Toronto. This estimate aligns with the Bureau of Transformation Statistics reported air travel already existing between those cities. Mr. Schmidt remarks that, “In reality, the potential market is much bigger because our services will attract people who use cars or trains as well.”
Transcend plans to capture the $20 billion market with their sleek VTOL aircraft, and their dedication to customer safety and satisfaction. Although VTOL technology (for “vertical takeoff and landing”) was first developed in the mid-1900s, Mr. Schmidt explains that modern technology advances have allowed VTOL aircraft to become accessible and safe for commercial flight. Transcend aircraft, including the Vy 400, are considered to be the “ultimate refinement” of successful tiltwing designs that flew in the 60s and 70s.
Its architecture incorporates artificial intelligence, so Mr. Schmidt suggested that AI could eventually pilot the plane, but added that they will start with human pilots at the controls and are in no hurry to replace them. The aircraft uses arguably the most reliable engine ever made, of the famed PT6 family, and also includes a complete airframe parachute. In the event a significant problem arises, the parachute will allow the aircraft to descend to the ground slowly, ensuring passenger safety.